March 26, 2020
Denver-based Ascentris, in a joint venture with San Diego-based Cypress Office Properties, LLC, acquired Summit V in Aliso Viejo. The two-building Class A office campus totals 253,000 square feet and has a 1,232-space free-standing parking structure.
The asset was constructed in 2008 and is one of the newest of the office buildings built in the Aliso Viejo submarket. It features nine-foot ceilings, expansive window lines, large functional floorplates and a resort-quality outdoor courtyard with multiple water features and amenity space connecting the two buildings.
The property is centrally-located in South Orange County with direct access to the 73 Toll Road, and near retail and restaurant offerings. The new owners plan to renovate both the interior and exterior, creating a dynamic work environment.
Ascentris’ Jeffrey Stonger says, “It is also the start of a new partnership with Cypress, who is a best-in-class operator within Southern California, and we look forward to executing on this investment with them.”
For comments, questions or concerns, please contact Dennis Kaiser